$LAYER SIGNAL ALERT 🔴✨️✨️✨️✨️

$LAYER is currently showing signs of forming a potential Head and Shoulders pattern on the 4H timeframe. This is a well-known bearish reversal structure, typically signaling a shift from an uptrend to a possible downtrend once confirmed.

The Left Shoulder formed around $2.85, followed by a strong move up to $3.74, creating the Head. Now, price action is developing the Right Shoulder around the $3.33 level. The critical zone to watch is the neckline near $3.15. A clean breakdown below this level with increased volume would confirm the pattern and trigger further downside.

Key support levels to monitor after a neckline break are $3.1538, $3.0499, $2.9007, $2.7587, and $2.5876. RSI is currently neutral but a drop below 50 would add extra confirmation to this bearish setup.

Keep this on your radar. Manage your positions carefully and watch how the price behaves around the neckline for confirmation before acting.

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dr_mt